Shares of the Los Gatos, Calif., company at last check were up slightly to $488.77.
Jim Cramer: Don’t Give Up on FAANG
These products include streetwear and action figures based on the anime series “Yasuke and Eden,” as well as apparel and decorative items inspired by the program “Lupin” in collaboration with the Louvre Museum.
For Thursday’s launch Netflix.shop introduced anime-inspired collectibles by the designers Nathalie Nguyen, Kristopher Kites and Jordan Bentley.
Netflix.shop will first be available in the U.S. before expanding into other countries in coming months, the company said.
Netflix‘s position in the streaming space is being challenged by a growing number of competitors.
According to market research firm Ampere Analysis, Netflix’s U.S. market share in streaming has fallen from nearly one-third of the total market at the end of 2019 to one-fifth at the end of 2020.
In April, Netflix posted first-quarter earnings and revenue results that topped estimates, but subscriber numbers fell short of expectations.
The company added 3.98 million net paid subscribers in the first quarter versus its own guidance for 6 million adds and consensus estimates for 6.34 million adds.
The company also had a big night at the 93rd Academy Awards, bringing home a total of seven gold-statue Oscars.